This is the second of a three-part series. Find the first post here.
Congratulations, you’ve been accepted to college and secured enough scholarships, loans and savings to enroll. Now you get to explore the large and exciting (and parent—free) world that is college life. Chances are this will be your first time living away from your parents and it’s probable that you’ve never managed your own expenses before. With all the freedom that college offers, it can be easy to forget that you don’t always have the finances to explore all of that freedom.
By this point hopefully you’ve sat down with your parents, or at least had a serious discussion with yourself, and created a monthly budget. It’s important to not only plan for your known expenses but to have enough wiggle room to accommodate unforeseen expenses like car repairs, replacing stolen property or even late night pizza for your “study group.” With that in mind, it is important to cut corners where you can because every penny you save is a penny you don’t have to borrow and pay back later at 12% interest.
Here is your guide to pinching your pennies at college.